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Public sector account officers to advantage from IPSAS certification programme | CBM Latest Questions and actual Questions

business information of Thursday, 21 January 2021

supply: GNA


The training, which is a year-long programme, has nine modules The practising, which is a yr-long programme, has nine modules

About 5000 Accounting Officers from a variety of public sector associations are to advantage from the foreign Public Sector Accounting requirements (IPSAS) authorized Certification practicing programme.

The practicing, which is a yr-long programme, has nine modules starting from January to December and will equip participants to prepare and present financial statements on an accrual foundation as required in regulation 208 of the general public financial administration laws 2019 L. I 2378.

The programme, organised via the Controller and Accountant established’s branch (CAGD) and being backed by using the Swiss State Secretariat for economic Affairs (SECO) should be carried out on an e-gaining knowledge of platform provided by using the PricewaterhouseCoopers.

it will deliver fingers-on practical working towards to Public Sector Accounting Officers in the education and presentation of IPSAS compliant economic statements.

The IPSAS changed into adopted in 2014 and accredited with the aid of the Ministry of Finance with the CAGD assigned to take accountability for the implementation system to aid inadequate monetary reporting.

it's a group of specifications issued by IPSAS Board of international Federation of Accountants to alter and e-book the training, presentation and disclosure of universal goal financial statements within the public sector internationally.

Mr Kwesi Kwaning-Bosompem, the performing Controller and Accountant common, speaking at the launch of the IPSAS accredited Certification Programme, talked about the training can be facilitated by way of the Institute of Chartered Accountants Ghana (ICAG).

He spoke of as a way to be certain transparency, public accountability and satisfactory monetary reporting govt had implemented various Public financial management Reforms.

Mr Kwaning-Bosompem stated the reforms had over the years been grounded in the Public fiscal management Reforms approach developed to function a national Strategic doc to support the construction of the nation’s Public financial management programmes.

Mr Kwaning-Bosompem talked about the goal of the approach turned into to set up productive, transparent and dependable aid mobilisation, allocation, management and utilisation of materials to meet the country’s building agenda.

He mentioned a key programme below the capability workstream was the IPSAS approved Certification Programme for the public sector accounting officers, auditors and other stakeholders to boost their capacity within the guidance, presentation and audit of accrual-groundwork IPSAS financial statements.

The performing Controller and Accountant customary referred to except 2012, Public accounts had been prepared in compliance with general accredited Accounting ideas and in line with financial legal guidelines of Ghana.

He mentioned the financial statements had been prepared on money groundwork, despite the fact, realising the shortcomings on money-based accounting, the modified accrual equipment of fiscal reporting turned into adopted, which did not utterly meet overseas requirements.

“This invariably affected their Public Expenditure and financial Accountability ratings,” he stated.

Mr Kwaning-Bosompem pointed out it turned into, for this reason, a relief that the Ministry of Finance accepted the adoption and implementation of IPSAS, which ensured Public money owed were organized on Accrual groundwork, in line with overseas necessities.He referred to IPSAS would inherently enhance fiscal transparency and accountability within the public debts.

“The increasing use of public economic counsel each in the community and internationally places more desirable responsibility on public sector accountants to divulge adequate guidance of their monetary statements to help interpretation, comparability and understandability,” Mr Kwaning-Bosompem, introduced.

He said an better public financial counsel would support decision making throughout the public sector and additionally assure consistency of fiscal assistance.

Mr Kwaning-Bosompem observed the adoption of IPSAS would enhance the first-class and comprehensiveness of monetary counsel stated by means of public sector entities to supply credibility as well as acceptance.

Dr Hamza Bukari Zakaria, an financial Governance and Public monetary management specialist, stated at the Swiss Embassy, the Swiss State Secretariat for financial Affairs (SECO) Labelled their support to nation’s Public monetary management Reform as the PFM Reform strategy Accounting mission.

He mentioned the center of attention changed into to aid the government within the implementation of accrual-primarily based IPSAS.

“We conceptualised the operation as an further financing through a single donor believe fund to an lively World financial institution challenge (PFMRP) financed by an IDA loan of USD 45 Million,” he talked about.

Dr Zakaria, speaking on behalf of Mr. Heinz Kaufmann, Head of Cooperation and Deputy Head of Mission, Embassy of Switzerland for Ghana, Togo and Benin, talked about Accrual-based accounting techniques enabled the construction of economic advice that provided a comprehensive and correct view of government financial efficiency, financial place, and money flows.

He talked about in distinction to cash-based mostly accounting, accrual accounting acknowledged transactions as underlying economic hobbies took place, even with the timing of linked cash receipts and funds.

Dr Zakaria said the launch of an IPSAS certification programme complemented and reinforced the collective resolve to institutionalise IPSAS in the persisted skilled building of public sector accountants.

“I want to reiterate the persisted dedication of Switzerland’s help through SECO to PFM reforms in Ghana,” he brought.

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